Allen & Overy appoints Middle East and Turkey chief as interim global managing partner
Khalid Garousha begins eight-month term in September following Gareth Price’s resignation for personal reasons
Allen & Overy (A&O) has named Khalid Garousha as its interim global managing partner following incumbent Gareth Price’s resignation for personal reasons.
Garousha, who has been a partner at the firm since 2004 and is currently regional managing partner in the Middle East and Turkey, will take over the role 1 September for an eight-month period to 30 April 2024.
His time at the helm will likely coincide with the firm’s partners voting on a merger with New York firm Shearman & Sterling, a move that could create a global giant with 3,900 lawyers across 49 offices and revenue in the region of $3.4bn.
A&O senior partner, Wim Dejonghe, commented: “Following careful consideration, the board unanimously selected Khalid as interim global managing partner. Khalid is ideally suited to take up the role and I would like to thank him on behalf of the firm for his commitment and leadership. I look forward to working closely with him to continue delivering on our strategic aims, staying focused on our clients and people and holding the proposed merger vote by the end of October.”
Dejonghe told legal media outlets when Price’s resignation was announced earlier this month that his decision was unrelated to the planned Shearman merger. Price, who had been at A&O for almost 30 years, began a four-year term as managing partner in April 2020 after taking part in a contested vote alongside three other partners. He served as global head of projects and energy before taking the helm and succeeded Andrew Ballheimer.
Meantime, Garousha has been at A&O in the UAE since 2000 and is one of the region’s most highly regarded M&A and equity capital markets practitioners. He will continue to serve as managing partner in the Middle East and Turkey, the firm said.
Garousha commented: “It is a privilege to be asked by the board to take up this role. Wim and I will work together during this exciting time to continue growing our firm and to deliver excellent service to our clients.”
A&O reported earlier this month that it had broken the £2bn revenue barrier for the first time in FY23, though like a number of other UK firms saw profits dip in the face of high inflation and challenging market conditions. Profit per equity partner at the firm fell 6.7% from the year before to £1.82m, a figure that saw it behind Magic Circle rivals Clifford Chance and Freshfields but ahead of Slaughter and May.